Wandoujia receives funding from Goldman Sachs
By MENG JING (chinadaily.com.cn) Updated: 2014-03-24 17:38Wandoujia, also known as SnapPea, one of China's leading Android app distributors, announced on Monday that it has received additional funding from Goldman Sachs Group Inc for Series B financing.
Wandoujia is the first start up company that the American multinational investment-banking firm has invested in China's booming mobile Internet market, according to the company's statement.
The Beijing-based start-up company didn't reveal the exact figure of Goldman Sachs' investment. It said that it will continue focusing on its core strategy of being a mobile content search engine.
Wang Junyu, founder and CEO of Wandoujia, said that the company has built an open and win-win cooperation with content providers and app developers since Wandoujia launched its 4.0 version, which enable users to search all kinds of mobile entertainment contents from apps mobile games to videos and e-books.
The capital injection from Goldman Sachs came not long after Wandoujia secured $120 million funding in the same round, which was led by SoftBank Corp and joined by DCM and Innovation Works Development Fund in January.
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